| 1 | 1 | | 85R987 TJB-D |
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| 2 | 2 | | By: Creighton S.B. No. 240 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the exemption from ad valorem taxation of part of the |
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| 8 | 8 | | appraised value of the residence homestead of a partially disabled |
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| 9 | 9 | | veteran or the surviving spouse of a partially disabled veteran if |
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| 10 | 10 | | the residence homestead was donated to the disabled veteran by a |
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| 11 | 11 | | charitable organization for less than the market value of the |
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| 12 | 12 | | residence homestead. |
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| 13 | 13 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 14 | 14 | | SECTION 1. Section 11.132(b), Tax Code, is amended to read |
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| 15 | 15 | | as follows: |
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| 16 | 16 | | (b) A disabled veteran who has a disability rating of less |
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| 17 | 17 | | than 100 percent is entitled to an exemption from taxation of a |
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| 18 | 18 | | percentage of the appraised value of the disabled veteran's |
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| 19 | 19 | | residence homestead equal to the disabled veteran's disability |
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| 20 | 20 | | rating if the residence homestead was donated to the disabled |
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| 21 | 21 | | veteran by a charitable organization: |
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| 22 | 22 | | (1) at no cost to the disabled veteran; or |
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| 23 | 23 | | (2) at some cost to the disabled veteran in the form of |
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| 24 | 24 | | a cash payment, a mortgage, or both in an aggregate amount that is |
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| 25 | 25 | | not more than 50 percent of the good faith estimate of the market |
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| 26 | 26 | | value of the residence homestead made by the charitable |
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| 27 | 27 | | organization as of the date the donation is made. |
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| 28 | 28 | | SECTION 2. This Act applies only to ad valorem taxes imposed |
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| 29 | 29 | | for an ad valorem tax year that begins on or after the effective |
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| 30 | 30 | | date of this Act. |
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| 31 | 31 | | SECTION 3. This Act takes effect January 1, 2018, but only |
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| 32 | 32 | | if the constitutional amendment proposed by the 85th Legislature, |
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| 33 | 33 | | Regular Session, 2017, authorizing the legislature to provide for |
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| 34 | 34 | | an exemption from ad valorem taxation of part of the market value of |
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| 35 | 35 | | the residence homestead of a partially disabled veteran or the |
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| 36 | 36 | | surviving spouse of a partially disabled veteran if the residence |
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| 37 | 37 | | homestead was donated to the disabled veteran by a charitable |
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| 38 | 38 | | organization for less than the market value of the residence |
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| 39 | 39 | | homestead and harmonizing certain related provisions of the Texas |
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| 40 | 40 | | Constitution is approved by the voters. If that amendment is not |
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| 41 | 41 | | approved by the voters, this Act has no effect. |
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